Tesla ‘Car of the Year’ is Getting More Expensive

Just weeks after winning a Car of the Year award, the Tesla Model S is going up in price, the company announced today.

The base price of a Model S sedan, the electric car company’s biggest attempt yet to break into the mainstream auto market, will go up by $2,500 from January 1 next year. The car currently begins at $57,400, before a $7,500 federal tax credit; that will go up to $59,900 next year.

Tesla says the increase is modest, given that the Model S was announced in early 2009 and hasn’t risen in price since. Consumer prices are up 8.75% since then, and today’s price rise is only half as much, so goes the company’s story.

The company was also keen to remind potential buyers that they can still lock into today’s price. “This price increase will not apply to anyone who has or makes a reservation by end of day on December 31,” it said.